BANKRUPTCY ACT 1966 - SECT 139S Contribution payable by bankrupt

BANKRUPTCY ACT 1966 - SECT 139S

    The contribution that a bankrupt is liable to pay in respect of a contribution assessment period is the amount worked out in accordance with the formula:

"where:"

"Assessed income" means the amount assessed by the trustee to be the income that the bankrupt is likely to derive, or derived, during the contribution assessment period.

"Actual income threshold amount" means the actual income threshold amount assessed by the trustee to be applicable in relation to the bankrupt when the assessment is made.